You are here

"Energy Firms Boost U.S. Gulf Oil, Natgas Output After Storm"

"Energy companies were restoring offshore oil and natural gas production and restarting refineries on Sunday as the recovery from Hurricane Isaac shifted into high gear."

"Shut offshore oil output in the Gulf of Mexico was down 22 percent from Saturday's 93.53 percent and natural gas output was down nearly 10 percent from 65.26 percent shut a day earlier, the U.S. Bureau of Safety and Environmental Enforcement said on Sunday.

Phillips 66 said on Sunday that most of the floodwater had been cleared from its 247,000 barrel per day (bpd) Alliance, Louisiana, refinery. Isaac came ashore as a hurricane south of the refinery on Tuesday. Electrical power remains off at the refinery and will have to be restored before the plant can restart.

Total offline oil refinery capacity fell to 439,500 barrels per day (bpd) as Motiva Enterprises 233,500 bpd Norco, Louisiana, refinery was restarting, according to the U.S. Energy Department."